The highest-yielding two-year bump-up CD in the survey paid 0.
Bump-up CDs give investors the option to increase their rate at some point during the term should interest rates rise.
However, the yields offered on the bump-up CDs in the survey fell short of the top-yielding nationally available traditional CDs of the same maturity, often by a wide enough margin that there is no hope of 'bumping up' to a high enough yield to offset the lower initial yield.
Several other credit unions were highlighted in the bump-up CD category.
They tend to fall into three categories: step-up CDs, which rise at predetermined intervals during the course of the CD's term; liquid CDs, which allow investors to transfer money out of a CD to be reinvested in higher-rate CDs; and bump-up CDs, where holders can raise their rates a certain number of times during the CD's term.